Many employers recognise the value of staff benefits and, according to a survey of 568 HR practitioners conducted by the Chartered Institute of Personnel and Development (CIPD), 97% of organisations plan to maintain or increase investment in employee benefits expenditure in the coming two years.
Professional development (43%), health and well-being (29%) and financial benefits (25%) are all areas employers have given where they intend to increase investment.
The survey also found that the five most popular benefits across all sectors are:
- Pension schemes (trust or contract-based)
- Paid leave for bereavement
- Training and career development
- Childcare vouchers
- Occupational sick pay.
Charles Cotton, Senior Reward and Performance Adviser at the CIPD, said:
"Despite the recent economic and political uncertainty, employers are committed to investing in their employees and their future. It's encouraging to see the benefits that have been earmarked for further spend in the near future relate to people development and well-being”.
Spending in these areas helps improve employees’ physical and mental well-being, increases their job satisfaction and, in turn, enhances their productivity, which all leads to improved corporate performance.
We can help you put together an affordable and appropriate benefits package to help you reward, motivate and retain your team.
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